Legacy Advisors LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Legacy Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,937 shares of the information services provider's stock after purchasing an additional 4,340 shares during the quarter. Alphabet makes up approximately 1.3% of Legacy Advisors LLC's holdings, making the stock its 15th biggest position. Legacy Advisors LLC's holdings in Alphabet were worth $12,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $30,000. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $49,000. EQ Wealth Advisors LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $49,000. Navigoe LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $53,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 2.9%

Shares of GOOGL traded up $4.99 during midday trading on Friday, reaching $178.53. 107,974,317 shares of the stock were exchanged, compared to its average volume of 31,238,454. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company's 50 day moving average is $166.45 and its two-hundred day moving average is $174.52. The company has a market capitalization of $2.17 trillion, a P/E ratio of 19.90, a PEG ratio of 1.11 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the company earned $1.89 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,195 shares of company stock valued at $35,764,898 over the last quarter. 11.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOGL. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Tigress Financial upped their price objective on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 price objective (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday. Finally, JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target on the stock in a report on Friday. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $199.95.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.